Life Insurance

Life insurance pays your beneficiary in the event of your death.

Life has changed, the need to protect your family hasn't

You can get cost-effective life insurance coverage to protect those you care about most and the life you’re building for them today.

You can easily protect your family’s future, today

We've all experienced how important it is to protect the health and safety of loved ones. It's why you work hard, continue to save what you can and try your best to plan for what's next. Looking after those you care for should not be a financial burden. Now you can help ensure that future by providing your loved ones with the financial protection only life insurance offers. This way, you’ll know that the life you’re working hard to build for your family will still move forward, no matter what happens.

  • Provides your family with valuable financial protection
  • Pays a monetary benefit to your beneficiary in the event of your death
  • Money can be used for a wide variety of purposes: final expenses, income replacement, paying off mortgage and other debts, childcare/education costs, and other short- and long-term expenses

80% of people think life insurance is more expensive than it actually is.1

How much life insurance should you have?

Life Insurance Calculator

Optional Life Coverage Options

 

Employee Coverage

 Spouse/Domestic Partner Coverage

Child(ren) Coverage

Coverage Options

You can apply for or increase your current coverage to one of the following amounts:

  • 1 to 8 times your annual base pay up to a maximum of $2,000,000
  • Evidence of Insurability (EOI) is required.2
  • You can apply for or apply to increase coverage in the following amounts:
    1. $25,000
    2. $50,000
    3. 1 to 4 times your annual base pay up to $500,000
  • Spouse coverage cannot  exceed the lesser of  50% of the employee’s basic and/or optional life insurance combined amount, rounded up to the nearest $1,000.
  • EOI is required.2
  • You can apply for child coverage in the amounts of:
    1. $10,000
    2. $20,000
    3. $30,000
  • No EOI required.
  • One premium covers all eligible children.

Newly Eligible Employee Coverage

  • (Employees are typically newly eligible when they are hired.)
  • You must enroll  within 31 days of eligibility date.
 You can apply for coverage for the following amounts, without providing EOI:
  • 1 to 5 times your base annual pay, up to $600,000
  • Your coverage will be an amount equal to a multiple of your annual pay
  • For amounts over this, EOI is required.2
  • You can apply for coverage for the following amounts, without providing EOI:
    1. $25,000
    2. $50,000
  • For amounts over this, EOI is required.2

Same as above.

Qualifying Life Event Coverage

  • (If you gain a new dependent through marriage, birth, or adoption, or purchase a home).
  • You must enroll within 31 days of qualifying event.
  • You can apply for or increase your current coverage without providing EOI:
    1. 1 times your base annual pay, when total coverage is up to $600,000
    2. For amounts over this, EOI is required.2
  • You can apply for or increase your current coverage to one of the following amounts, without providing EOI:
    1. $25,000
    2. $50,000
  • For amounts over this, EOI is required.2

Same as above.

Additional Information

  

You may elect coverage for your spouse/qualified domestic partner even if you do not elect coverage for yourself subject to a maximum of 50% of your total amount.

You may insure your unmarried dependent children up to age 26. When children reach age 26, they may exercise their portability option on their coverage to an individual life insurance policy with MetLife.

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Life Insurance FAQs

While having life insurance provided by your employer is a great benefit, it’s possible that it may not be enough to adequately provide for your family. Additional life insurance can give your family greater financial security if you are no longer here to earn a paycheck.

Everyone is different, but you may need more than you have now. The insurance you need changes as your life changes — for example, getting married, starting a family or buying a home might change the coverage you need. Many people are surprised to learn that they don’t have enough life insurance to cover the many expenses their loved ones may face.It’s simple to determine the amount of coverage you need now:

Go to www.metlifeiseasier.com to calculate how much life insurance may be right for you.

It may be less expensive than you think. MetLife’s group life insurance plans are an economical way for you to provide for your family with competitive group rates3 and a wide range of coverage options to choose from. Exact rates can be found in the enrollment materials provided by your employer.

Premiums are conveniently paid through payroll deduction, so you don’t have to worry about writing a check or missing a payment.

What are the advantages of purchasing life insurance through work?

  • You get competitive group rates3 and a wide range of coverage options to choose from.
  • Proceeds are generally income tax free and can be paid to your beneficiary in a lump-sum payment.
  • You will have the convenience of having premiums automatically deducted from your paycheck.

  • You get competitive2 group rates and a wide range of coverage options to choose from.
  • Proceeds are generally income tax-free and can be paid to your beneficiary in a lump-sum payment. 
  • You will have the convenience of having premiums automatically deducted from your paycheck.

With portability, you can take your life insurance benefits with you without a gap in coverage. You can continue your Group Life insurance coverage with MetLife should you leave your employer for any reason. Competitive rates apply but will likely be higher than your current rates. MetLife will bill you directly.4

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Protect what matters most

Take control of your life insurance coverage so you’ll have the right protection in place for you and your family at all times.

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1 LIMRA - http://www.limra.com/uploadedFiles/limra.com/LIMRA_Root/Posts/PR/LIAM/PDF/Infographic_TrueCost.pdf

2 All applications for coverage are subject to review and approval by MetLife. If you choose to apply for increased coverage, the increase may be subject to underwriting. MetLife will review your information and evaluate your request for coverage based upon your answers to the health questions, MetLife’s underwriting rules and other information you authorize us to review. In certain cases, MetLife may request additional information to evaluate your request for coverage. Coverage will be effective in accordance with the applicable policy and certificate after approval by MetLife. Only applicants who reside in a US state, the District of Columbia, or Guam, Northern Mariana Islands, Puerto Rico or US Virgin Islands are allowed to complete their SOH form online (where available). Otherwise, applicants will be provided with a paper SOH form. Individuals residing outside of the US or in certain US territories must be on US payroll and be approved by MetLife before being provided with an SOH form.

3 Cost of insurance rates are determined using methodologies that vary by company. These rates can vary and will generally increase with age. Rates for active employees may be different than those available to terminated or retired employees. It’s important to look at all factors when evaluating the overall competitiveness of rates and the value of life insurance coverage.

4 All coverage amounts are subject to applicable state laws. To take advantage of this benefit, coverage of at least $10,000 must be elected.

Nothing in these materials is intended to be advice for any particular situation or individual. Please consult with your own advisors for such advice. Like most group insurance policies, insurance policies offered by MetLife contain certain exclusions, exceptions, waiting periods, reductions, limitations and terms for keeping them in force. Please contact your benefits administrator or your MetLife Group Representative for costs and complete details.

MetLife Group Term Life insurance is issued by Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY 10166 under Policy Form GPN99/G2130-S.